AIIM, Adenia and IFC invests US$130m in Eastcastle Infrastructure, acquires majority stake

AFRICA – Infrastructure-focused private equity fund managers, The African Infrastructure Investment Managers (AIIM), Adenia Partners (Adenia), a private equity firm investing in Africa, and IFC, a member of the World Bank Group, have partnered to invest a total of US$130 million to support Eastcastle Infrastructure (Eastcastle), a company specializing in Africa’s telecoms tower sector. The funding will support Eastcastle’s build-to-suit strategy, to develop new telecom towers initially in the Democratic Republic of Congo, Nigeria and Côte d’Ivoire. The number of towers across the region needs to increase significantly to accelerate the deployment of bandwidth…

Read More

Startupbootcamp AfriTech, Telecel accelerator program picks 10 startups for 2021 cohort

AFRICA – Ten startups from across Africa have been picked to take part in the Africa Startup Initiative Programme (ASIP) run by Startupbootcamp AfriTech in partnership with mobile operator Telecel. Startupbootcamp AfriTech was launched in 2017 as the first multi corporate-backed pan-African startup accelerator and for its latest programme, it has partnered with telecoms firm Telecel Group to launch ASIP aims to support young startups with innovative ideas that are creating a difference in their communities.  More than 2,200 applications were received for the programme, which have now been narrowed down to a top 10…

Read More

IFC, Rockefeller Foundation partner to advance clean energy access in Sub-Sahara Africa

SSA – The International Finance Corporation (IFC), the private sector arm of the World Bank Group, and The Rockefeller Foundation (RF), one of the most famous philanthropies, have announced a new partnership that aims to deploy US$150 million of RF’s catalytic capital in blended finance to mobilize up to US$2 billion of private sector investment in distributed renewable energy solutions. The partnership will prioritize countries in Sub-Saharan Africa and select other regions, where both organizations have identified immediate opportunities and ultimately, the list of countries where this partnership will deploy…

Read More

Vodacom unveils lofty fiber, fintech, IOT investment plans as it entrenches itself as a tech company

SOUTH AFRICA – Mobile communication company Vodacom is fortifying its business model, scaling up fibre, financial services, Internet of things (IOT) and network expansion plans in a bid to become the dominant telco in all its markets. The telco says it remains focused on entrenching Vodacom as a top Pan-African technology company through investments in these sectors to augment its relationships with the 100 million plus customers it serves across Africa. The intensified desire to pursue opportunities in fibre, financial services and IOT comes at a time the telco is transitioning into…

Read More

Venture capital Mobility 54 invests in telematics insurance company AiCare

KENYA – Toyota Tsusho Corporation and its group company CFAO SAS is investing in AiCare Group Inc., a provider of telematics insurance system for insurance companies in Kenya. The investment will be engaged by Mobility 54 Investment SAS (“Mobility 54”), a corporate venture capital subsidiary of Toyota Tsusho group which was jointly established in October 2019, through the convertible notes investment. In Kenya, it is compulsory for every car-owner to subscribe motor insurances, and approximately 3 million vehicles are insured today, and insurance premium rates are generally determined based on…

Read More

Asset manager 27four launches managed by women for women in fund management accelerator

SOUTH AFRICA – Asset manager 27four Investment Managers has launched 27four Women, an accelerator managed by women for women that will focus on accelerating the trajectory for achieving both transformation and gender parity goals in South African asset management. The women-led accelerator will provide qualifying women fund managers with access to assets under management, and operational and compliance infrastructure to allow the managers to build track record and develop skills around industry best practice and capacity building. Investors will now have access to more women managed funds to consider and,…

Read More

Ivory Coast to add value to cocoa waste, invests US$244m in cocoa-powered bio-diesel plant

IVORY COAST – Ivorian specialist in the biomass sector, Société des Energies Nouvelles (SODEN), has partnered with US Trade and Development Agency to establish a cocoa-powered renewable energy plant. The project, which will innovatively put to use the cocoa-waste is expected to cost about 131 billion West African CFA francs (US$244m). Ivory Coast is the world’s leading producer of cocoa beans contributing over 40% of the global supply. The cocoa beans which are exported to power the US$130billion per annum cocoa and chocolate industry, make up a small portion of…

Read More

Jamie Pujara – Hospitality Guru Wins Global Award As He Dabbles Into Real Estate To Pivot From Covid-19

Jamie Pajura was recently awarded the prestigious Mark Lincoln Volunteer of the Year Award 2021 by the Entrepreneurs’ Organization for his selfless dedication to helping fellow business owners survive the Covid-19 pandemic. An entrepreneur whose family opened Nairobi’s first Chinese restaurant Tin Tin Restaurant in 1978, he is an avid investor with prior forays into E-commerce and has recently entered the real estate business. Africa Inc. magazine had a chat with Jamie Pujara.

Read More

Ethio Telecom opens new Huawei-built modular data center

ETHIOPIA –  Ethiopian telecommunication company Ethio Telecom, has launched what it says is the biggest Tier III-ready modular data centre in Ethiopia. The incumbent operator said that the new data centre, in the Gola Sefer district of the capital, Addis Ababa, was supplied by Huawei. “The newly built data centre will firstly serve existing service provision such as mobile money and business support systems, and the extra capacity could be used for new business such as colocation and cloud service in the future,” said Ethio Telecom. Chen Mingliang, CEO of…

Read More

European Union to spend US$1.2b in constructing vaccine factories in Africa

AFRICA – The European Union is planning to invest US$1.2 billion to facilitate construction of vaccine factories in Africa, Commission President Ursula von der Leyen has said. The president added that this will help the continent, where vaccination against COVID-19 has barely begun in many countries, to catch up. The bloc’s head made the pledges in Rome at a health summit of the G20, the world’s major economies. “Preventing future health emergencies means strengthening capacities throughout the world. Today, Africa imports 99% of its vaccines. This has to change. Therefore,…

Read More